2 hours ago
Prior to the latest positive surge in volatility, Bitcoin lost momentum and remained indecisive for over a week. It is currently up 5% in the past hours following a notable break above a weekly resistance level. After bouncing from $74.5k in the first week of the month, Bitcoin recovered nicely and tapped the $86,000 range. It later cooled off buying pressure after facing resistance and traded calmly in the second week. Several attempts to overcome this level proved abortive throughout last week, and the asset maintained sideways movements. Volatility increased today, and the price surged to a new monthly high with an impressive daily gain in the last 24 hours. The latest surge was mainly triggered by a break above the mentioned price range, which has been serving as a critical resistance for the bulls for over a week. They are currently targeting $88.7k. Overcoming it could pave the way for more recoveries towards the crucial $95k level. This crucial level marked a tough resistance for the bulls in the second phase of the short-term bearishness. If they manage to scale through, we can anticipate a major rally capable of activating a major reversal in the trend. With negative sentiments surrounding the crypto market from a mid-term perspective, Bitcoin might soon face tough resistance. And if that happens, the $70k level would be its next target point for selling. BTC’s Key Levels To Watch Source: Tradingview While the bulls’ next target levels lie at $888,765 and $90,000, they may face resistance at $92,810 if the price surpasses the mentioned levels. The $95k level is considered a trigger point for its next long-term move. Should the bears step back, the potential support levels to consider for drops would be $85,500, $81,135 and $76,606. Reclaiming the monthly $ low should set the market up for another crackdown. Key Resistance Levels: $88,765, $92,810, $95,000 Key Support Levels: $85,800, $81,135, $76,606 Spot Price: $86,888 Trend: Bearish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
NullTx
You can visit the page to read the article.
Source: NullTx
Tags :
Market Analysis bitcoin btc crypto cryptocurrency
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Crypto Shorts Get Rekt as Bitcoin Rises Following Trump Attack on `Loser` Fed Chair
Bitcoin topped $88,000 at one point Monday, its highest point since late March, before losing some ground. NullTx
![A closely followed economist says US President Donald Trump is plunging the country into one of the most significant periods of economic turmoil in recent history. Alex Krüger tells his 209,200 followers on the social media platform X that Trump’s tariff policies are causing a massive selloff of US assets. “The US is trying to commit economic suicide and everyone is dumping US assets in response. The tarifacrash is the second most insane financial event in modern history (coronacrash was the first).” Source: Alex Krüger/X He warns that Trump needs to reverse course on the tariffs – otherwise, an economic recession is highly likely. “If Trump does not greatly reduce tariffs [there are] high odds the US goes into a serious recession [and then there are] high odds Dems win midterms by a landslide [creating] high odds they impeach Trump, roll tariffs back and plunge the US towards socialism. It is in everyone’s interest to reach an agreement.” Krüger also says that Bitcoin ( BTC ) may be decoupling from the stock market as the flagship crypto asset is breaking out at the start of the week while stocks are plummeting. “I’m open to the possibility that it may be finally happening. Bitcoin taking on its final form. Either that or somebody is levering up on longs for some other reason.” The analyst recently laid out some possible economic scenarios in the coming months, one that includes a BTC rally to the $92,000 level. “Time to use my crystal ball. Scenario 1: 10% tariffs for most plus deal with China by early July. Markets rip. Scenario 2: high tariffs with Europe and China remain in place. Can use 2022 or 2008 as templates. Markets now coming out of June 2022 or October 2008. Bounce, then pain and lower lows a few months out. Particularly so as the economy starts rolling over and recession hits. Scenario 3: a roller coaster somewhere in between. I’m betting on a BTC bounce since last week. Think once $88,000 breaks, we see $92,000 fast. That would be an ideal place to get out and re-evaluate.” Bitcoin is trading for $88,062 at time of writing, up 4.3% in the last 24 hours. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Economist Alex Krüger Says US Committing ‘Economic Suicide’ Forcing American Assets Downward appeared first on The Daily Hodl .](/image/6806a3c95fae7.jpg)
Economist Alex Krüger Says US Committing ‘Economic Suicide’ Forcing American Assets Downward
A closely followed economist says US President Donald Trump is plunging the country into one of the most significant periods of economic turmoil in recent history. Alex Krüger tells his 209,200 followers on the social media platform X that Trump’s tariff policies are causing a massive selloff of US assets. “The US is trying to commit economic suicide and everyone is dumping US assets in response. The tarifacrash is the second most insane financial event in modern history (coronacrash was the first).” Source: Alex Krüger/X He warns that Trump needs to reverse course on the tariffs – otherwise, an economic recession is highly likely. “If Trump does not greatly reduce tariffs [there are] high odds the US goes into a serious recession [and then there are] high odds Dems win midterms by a landslide [creating] high odds they impeach Trump, roll tariffs back and plunge the US towards socialism. It is in everyone’s interest to reach an agreement.” Krüger also says that Bitcoin ( BTC ) may be decoupling from the stock market as the flagship crypto asset is breaking out at the start of the week while stocks are plummeting. “I’m open to the possibility that it may be finally happening. Bitcoin taking on its final form. Either that or somebody is levering up on longs for some other reason.” The analyst recently laid out some possible economic scenarios in the coming months, one that includes a BTC rally to the $92,000 level. “Time to use my crystal ball. Scenario 1: 10% tariffs for most plus deal with China by early July. Markets rip. Scenario 2: high tariffs with Europe and China remain in place. Can use 2022 or 2008 as templates. Markets now coming out of June 2022 or October 2008. Bounce, then pain and lower lows a few months out. Particularly so as the economy starts rolling over and recession hits. Scenario 3: a roller coaster somewhere in between. I’m betting on a BTC bounce since last week. Think once $88,000 breaks, we see $92,000 fast. That would be an ideal place to get out and re-evaluate.” Bitcoin is trading for $88,062 at time of writing, up 4.3% in the last 24 hours. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Economist Alex Krüger Says US Committing ‘Economic Suicide’ Forcing American Assets Downward appeared first on The Daily Hodl . NullTx
